Saltchuk Resources, Inc. and Overseas Shipholding Group, Inc. Announce Commencement of Tender Offer for All Issued and Outstanding Shares of Overseas Shipholding Group, Inc. (NYSE:OSG)

Provided By PR Newswire

Last update: Jun 17, 2024

SEATTLE and TAMPA, Fla., June 17, 2024 /PRNewswire/ -- Saltchuk Resources, Inc. ("Saltchuk") and Overseas Shipholding Group, Inc. (NYSE:OSG) ("OSG") announced that on June 10, 2024, Saltchuk's wholly-owned subsidiary, Seahawk MergeCo., Inc. ("Purchaser"), commenced its tender offer (the "Offer") for all issued and outstanding shares of Class A common stock ("Shares") of OSG at a price of $8.50 per Share in cash, subject to any applicable tax withholding and without interest (the "Offer Price"). The Offer is being made in connection with the Agreement and Plan of Merger, dated as of May 19, 2024, by and among Saltchuk, Purchaser and OSG (the "Merger Agreement"), which Saltchuk and OSG announced on May 20, 2024.